EPV vs. TERG

Last updated Jun 4, 2026

EPV (ProShares UltraShort FTSE Europe) and TERG (Leverage Shares 2X Long TER Daily ETF) are both Leveraged Equities funds. EPV is passively managed, while TERG is actively managed. At a correlation of -0.58, they often move in opposite directions. EPV charges 0.95%/yr vs 0.75%/yr for TERG.

Performance

EPV vs. TERG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort FTSE Europe (EPV) and Leverage Shares 2X Long TER Daily ETF (TERG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EPV achieves a -11.73% return, which is significantly lower than TERG's 229.64% return.

EPV

• 1D: 2.25%
• 1M: -5.85%
• YTD: -11.73%
• 6M: -16.26%
• 1Y: -27.09%
• 3Y*: -24.57%
• 5Y*: -17.86%
• 10Y*: -22.24%

TERG

• 1D: 8.49%
• 1M: 39.95%
• YTD: 229.64%
• 6M: 218.92%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

EPV vs. TERG - Yearly Performance Comparison

	2026 (YTD)	2025
EPV ProShares UltraShort FTSE Europe	-11.73%	-9.40%
TERG Leverage Shares 2X Long TER Daily ETF	229.64%	28.17%

Correlation

The correlation between EPV and TERG is -0.58, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 18, 2025	-0.58

Return for Risk

EPV vs. TERG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EPV

EPV Risk / Return Rank: 2
EPV Sharpe Ratio Rank: 2
EPV Sortino Ratio Rank: 2
EPV Omega Ratio Rank: 2
EPV Calmar Ratio Rank: 2
EPV Martin Ratio Rank: 1

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EPV vs. TERG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort FTSE Europe (EPV) and Leverage Shares 2X Long TER Daily ETF (TERG). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	EPV	TERG	Difference
Sharpe ratio Return per unit of total volatility	-0.87	—	—
Sortino ratio Return per unit of downside risk	-1.17	—	—
Omega ratio Gain probability vs. loss probability	0.87	—	—
Calmar ratio Return relative to maximum drawdown	-0.85	—	—
Martin ratio Return relative to average drawdown	-1.45	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	EPV	TERG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.87	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.50	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.59	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.61	9.90	-10.51

Drawdowns

EPV vs. TERG - Drawdown Comparison

The maximum EPV drawdown since its inception was -99.38%, which is greater than TERG's maximum drawdown of -49.52%. Use the drawdown chart below to compare losses from any high point for EPV and TERG.

Drawdown Indicators

	EPV	TERG	Difference
Max Drawdown Largest peak-to-trough decline	-99.38%	-49.52%	-49.86%
Max Drawdown (1Y) Largest decline over 1 year	-31.91%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-65.62%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-79.29%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-93.61%	—	—
Current Drawdown Current decline from peak	-99.35%	-15.98%	-83.37%
Average Drawdown Average peak-to-trough decline	-88.38%	-13.73%	-74.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.69%	—	—

Volatility

Volatility by Period

	EPV	TERG	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.72%	—	—
Volatility (6M) Calculated over the trailing 6-month period	26.10%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	31.19%	139.25%	-108.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.76%	139.25%	-103.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.80%	139.25%	-101.45%

EPV vs. TERG - Expense Ratio Comparison

EPV has a 0.95% expense ratio, which is higher than TERG's 0.75% expense ratio.

Dividends

EPV vs. TERG - Dividend Comparison

EPV's dividend yield for the trailing twelve months is around 4.79%, while TERG has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
EPV ProShares UltraShort FTSE Europe	4.79%	4.80%	4.83%	3.17%	0.33%	0.01%	0.09%	1.10%	0.19%
TERG Leverage Shares 2X Long TER Daily ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EPV and TERG in my portfolio?

EPV and TERG have a correlation of -0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EPV or TERG?

On fees, TERG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EPV or TERG?

TERG is cheaper with a 0.75% expense ratio, compared with 0.95% for EPV.

Which ETF pays a higher dividend yield, EPV or TERG?

EPV has the higher dividend yield at 4.79%, compared with 0.00% for TERG.

What is the main difference between EPV and TERG?

They also come from different issuers: ProShares and Leverage Shares. Their fees differ too: 0.95% for EPV and 0.75% for TERG.